Are you ready for the holidays?

You might want to hold your horses on the excitement until we make it through the week.

There are two major events to watch as the week before Christmas quickly creeps up on Wall Street.

The Federal Reserve

The Federal Reserve is expected to announce whether or not they will raise rates.

The market has already baked in a December rate hike, says TheStreet's Martin Baccardax. 

However, no rate hike could surprise the market and cause a 300-400 point rally, Baccardax believes. 

Baccardax also breaks down how consumers can play the Fed's decision--or how they shouldn't play it. 

The Santa Claus Rally

Don't know what that is? Well, you're in luck. Baccardax breaks down the historic couple of days and why it matters for investors. 

When asked how to play it, Baccardax said that investors should holdn and wait.